Shore Bancshares, Inc. Announce New Board Member

Rhea-AI Summary

Shore Bancshares, Inc. (NASDAQ: SHBI) has appointed Dawn M. Willey as a new director for both the Company and its subsidiary, Shore United Bank, effective January 1, 2021. This addition brings the total number of directors to 11. Willey has extensive experience in financial services, including executive leadership and operational risk management. Previously, she was the founding CEO of Bridgeforce Inc. and served in various roles at MBNA. Her expertise is expected to contribute positively to the company's strategic planning and growth.

Positive

• Dawn M. Willey brings significant financial services experience, enhancing the board's expertise.
• Appointment of Willey may strengthen strategic planning and operational risk management.

Negative

• Potential concerns about continuity and experience gaps due to recent board changes.

EASTON, Md., Dec. 22, 2020 /PRNewswire/ -- Shore Bancshares, Inc. (the "Company") (NASDAQ: SHBI) today announced the appointment of Dawn M. Willey as a director of both the Company and Shore United Bank, the Company's wholly-owned bank subsidiary, effective January 1, 2021.

Mrs. Willey is an independent director pursuant to applicable NASDAQ rules and has no material relationship with the Company. This director appointment brings the total number of directors to 11 for both the Company and Shore United Bank.

"We are very pleased to add Dawn to our Board of Directors," said Lloyd L. "Scott" Beatty, Jr., President and Chief Executive Officer. "She brings significant financial services experience to our board with particular expertise in executive leadership, technology application, strategic planning, business growth leadership and operational risk management".

Dawn M. Willey

Mrs. Willey (age 58) was the founding CEO of Bridgeforce Inc., a trusted advisor to many of the largest lenders in the world. Mrs. Willey retired in 2013 and served as Board Chairperson through 2019.  Mrs. Willey has also served on the Board of Katabat, a financial service SAS cloud computing company until its sale in 2020. Prior to launching an entrepreneurial career in 2000, Mrs. Willey held the position of Executive Vice President with MBNA, later purchased by Bank of America. During her 16-year career with MBNA, Mrs. Willey was responsible for the oversight and implementation of a variety of operations including: portfolio risk strategies, investment evaluation and development of strategic business technology initiatives for collections, fraud, credit acquisition and portfolio risk management.  

Mrs. Willey has a Bachelor of Arts degree from the University of Delaware.

Shore Bancshares Information

Shore Bancshares is a financial holding company headquartered in Easton, Maryland and is the largest independent bank holding company located on Maryland's Eastern Shore. It is the parent company of Shore United Bank. Shore Bancshares engages in trust and wealth management services through Wye Financial Partners, a division of Shore United Bank.

Additional information is available at www.shorebancshares.com.

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SOURCE Shore Bancshares, Inc.

FAQ

Who is the new director appointed by Shore Bancshares on January 1, 2021?

Dawn M. Willey was appointed as a director of Shore Bancshares and Shore United Bank, effective January 1, 2021.

What experience does Dawn M. Willey bring to Shore Bancshares?

Willey has significant experience in financial services, including executive leadership, strategic planning, and operational risk management.

How many directors are there in Shore Bancshares after the new appointment?

With the appointment of Dawn M. Willey, the total number of directors stands at 11.

When was the press release announcing Dawn M. Willey's appointment published?

The press release was published on December 22, 2020.